"...but seems a challenging business given the margins and relatively high fixed costs in the lean years."
Challenging business during lean times, no doubt.
But this inherent fixed cost structure means that profits explode when the business comes out of the lean years. Which is now.
Not a company to partner with for a long time; purely for a good time.
The trick is knowing when the good times are going to end.
When interest rates are above 5% and global PMI's less than 50, but the oil price is still US$85/bbl, then I think the good times aren't going away any time soon.
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MCE Price at posting:
29.5¢ Sentiment: None Disclosure: Held
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